Property Type

RIVERDALE, GA. — Atlanta-based RADCO has acquired a 615-unit multifamily community located at 750 Chateau Lane in the Atlanta suburb of Riverdale. Formerly known as Legacy at Riverdale, Rhythm at Riverdale offers studio, one-, two- and three-bedroom apartments spread across 57 low-rise residential buildings. Amenities at the property include multiple swimming pools, tennis and pickleball courts, laundry facilities and grade-level parking. The property rebrand was overseen by Unmaker Studio, RADCO’s internal full-service branding agency. Rhythm at Riverdale is the first property in RADCO’s portfolio to employ the Rhythm name, which is the company’s new brand for value-add properties. RADCO plans to complete capital improvements at the property, including renovations to the apartment units, exterior upgrades, building and mechanical repairs and enhancements to the common areas. Matt White and Scott Bray of Berkadia represented the undisclosed seller in the transaction. The sales price was also not disclosed.

FacebookTwitterLinkedinEmail

DALLAS — McDermott Will & Emery has signed a 25,024-square-foot office lease at the 19-block Harwood District in Uptown Dallas. The international law firm is relocating within the district to the top floor of Harwood No. 14, which is the newest addition to the development. The space can accommodate about 65 lawyers and staff. No third-party brokers were involved in the lease negotiations.

FacebookTwitterLinkedinEmail

ORLANDO, FLA. — Tavistock Development Co. has signed five new tenants to join Lake Nona West, a 405,000-square-foot lifestyle shopping center located within Orlando’s master-planned community of Lake Nona. The tenants include Cañonita Mexican Restaurant, Nordstrom Rack, Barnes & Noble, discount retailer HomeSense and Total Wine & More. The new round of lease signings bring the total preleased space at the property to more than 300,000 square feet, which includes a 150,000-square-foot Target anchor store. Situated on 54 acres, Lake Nona West will include wide, shaded walkways, art-lined plazas and community greenspaces. In collaboration with Mercedes-Benz High-Power charging, the center will also offer 20 Level 3 electric vehicle chargers. Tavistock, master developer of Lake Nona, expects to open Lake Nona West in spring 2026.

FacebookTwitterLinkedinEmail
One-Congress-Boston

BOSTON — JLL has arranged a $650 million loan for the refinancing of One Congress, a 43-story, 1 million-square-foot office tower in downtown Boston. Designed by Pelli Clarke & Partners, One Congress was completed in 2023 within Bulfinch Crossing, which is a redevelopment of the former Government Center Garage. The building offers amenities such as a full-floor center with food and beverage service, a 15,000-square-foot rooftop terrace, a 7,000-square-foot fitness center and a triple-height lobby with a coffee bar and seating. Financial services company State Street Corp. (510,000 square feet) and data management services provider InterSystems Corp. (420,000 square feet) are the anchor tenants. Riaz Cassum, Coleman Benedict, Jim Meisel, Mike Shepard and Hugh Doherty of JLL arranged the loan through Bank of America and Wells Fargo on behalf of the borrower, a partnership between Carr Properties and National Real Estate Advisors.

FacebookTwitterLinkedinEmail

OCALA, FLA. — Marcus & Millichap’s Taylor-McMinn Retail Group in Atlanta has arranged the $4.5 million sale of a single-tenant retail property located at 30 Bahia Ave. in Ocala, about 72 miles north of Orlando and 48 miles south of Gainesville, Fla. Built in 2024, the 6,723-square-foot building was occupied by automotive services provider Firestone on a 15-year triple-net lease at the time of sale. Firestone is a subsidiary of Bridgestone Retail Operations LLC with more than 1,700 tire and car care locations nationwide. Don McMinn of Taylor-McMinn Retail Group represented the seller, an undisclosed, Georgia-based development firm, in the transaction. The buyer was not disclosed. Ryan Nee served as Marcus & Millichap’s broker of record in Florida for the deal. “New construction Firestone properties continue to achieve aggressive pricing, fueled by strong credit, limited inventory and growing demand from an expanding pool of 1031 exchange buyers,” says McMinn.

FacebookTwitterLinkedinEmail

NEW YORK CITY — Locally based investment and development firm RFR has sold 522 Fifth Avenue, a 600,000-square-foot office building in Midtown Manhattan. The 23-story building was originally constructed in 1896 and has served as the corporate headquarters facility for both J.P. Morgan and Morgan Stanley at various points in time. RFR acquired 522 Fifth Avenue from Morgan Stanley for $350 million in 2020 and repositioned the building by acquiring the retail condominium, redeveloping the lobby, enlarging the windows and activating over 17,000 square feet of outdoor space. The undisclosed buyer also plans to occupy the building. No third-party brokers were involved in the sale.

FacebookTwitterLinkedinEmail

JERSEY CITY, N.J. — CBRE has arranged a 33,843-square-foot office lease at Newport Office Center in Jersey City. The tenant, Berkley Insurance, will occupy a portion of the ninth floor of Newport Office Center III, a 15-story, 620,000-square-foot building. Howard Fiddle, Benjamin Joseph, Greg Barkan and Erin Wenzler of CBRE, along with internal agents Meredith Jackness, Ray Kawas and Tim Johnson, represented the landlord, LeFrak, in the lease negotiations. The tenant representative was not disclosed.

FacebookTwitterLinkedinEmail

NEW YORK CITY — Mudrick Capital Management has signed a 12-year, 26,600-square-foot office headquarters lease in Midtown Manhattan. The investment management firm plans to relocate and expand from 527 Madison Avenue to the 16th floor of 31 West 52nd Street early next year. Patrick Heeg, Thomas Hines and Chase Gordon of Transwestern represented the tenant in the lease negotiations. Frank Doyle, David Kleiner and Andrew Coe of JLL, along with internal agents Peter Brindley, Doug Neye and Sean Kirk, represented the landlord, Paramount Group.

FacebookTwitterLinkedinEmail

COMMACK, N.Y. — My Gym, a global children’s fitness concept, will open a 3,000-square-foot facility in the Long Island community of Commack. The facility will be located next to Planet Fitness within the 222,000-square-foot Mayfair Shopping Center. E.J. Moawad of Levin Management Corp. represented the landlord in the lease negotiations. Juliana Chiarelli and Jason Sobel of RIPCO Real Estate represented My Gym.

FacebookTwitterLinkedinEmail
Grand-Covina-Plaza-Covina-CA

COVINA, CALIF. — Longpoint has purchased Grand Covina Plaza, a grocery-anchored shopping center in Covina, from a private family partnership for $24.9 million. Located at 1001-1075 N. Grand Ave., Grand Covina Plaza offers 111,975 square feet of retail space. Stater Bros Market, Dollar Tree, KFC, 7-Eleven and O’Reilly Auto Parts are tenants at the property, which is situated on 8.9 acres. At the time of sale, the property was 89 percent occupied. Dan Tyler, Gleb Lvovich and Geoff Tranchina of JLL Capital Markets’ Investment Sales and Advisory team represented the seller in the deal.

FacebookTwitterLinkedinEmail